Chinese Fastener Export Threatens Indian Counterparts

It is reported that the Indian nuts and bolts manufacturers are in a very difficult time due to an unstoppable challenge from China. Nearly 40% of the local Indian fastener market has been influenced by the dumping of cheap nuts and bolts from China. The statistics show that there were nearly 2,000 nuts and bolts manufacturers in India 3 years ago, however, the figure has dropped to 1,500 now. Some Indian companies have been even reported to leave for another industry sectors due to their inability to compete with their Chinese counterparts.

Some members of the Indian Fastener Suppliers Association have appealed to the government and say that some appropriate measures (e.g. reasonable antidumping measures) should be adopted to prevent Chinese cheap nuts and bolts from being imported to India. These members also consider that antidumping is currently the best way to deal with the problem.

During the time when several countries have turned to imposed antidumping measures to protect their own industries, such comments or ideas did really cause similar sentiments in the Indian nuts and bolts industry. These companies wish that through measures adopted by the government the local industry can be saved.